A few days age we reported that Verizon has slashed the price of Motorola’s Droid Razr M for the holiday season, but that’s not the only surprise for Droid fans. On Friday, the carrier also announced that all three Motorola phones – the Droid Razr HD, Droid Razr Maxx HD, and Droid Razr M will be eligible for the Android 4.1 Jelly Bean update as soon as next week.

The software upgrade will be pushed out to Droid Razr M owners in phases over the course of next week, Verizon said. The update will come to users over the air (OTA) but customers who wish to manually download Android 4.1 through the settings menu will be able to do so as well. Android 4.1 should take between 10 and 15 minutes to download and install, and users can manually check for the update by heading to Settings > About phone > System updates > Download.

Verizon has a support page detailing instructions on how to install Android 4.1 and outlining the benefits of using Jelly Bean. Some major improvements include Google Now, a Smart Keyboard that predicts the next word before a user types it, better notifications, and improvements to overall speed and usability. To check out Verizon’s full list of features or for more instructions, view its support page here.

This is the Verizon’s second smartphone series to get the highly anticipated Jelly Bean update. Back in September, Samsung’s Galaxy Nexus received Google’s mobile operating system upgrade. These are the only devices on Verizon’s network that have been confirmed for the Jelly Bean update at the moment. Samsung’s Galaxy Note 2, which just saw its Verizon launch on Thursday, comes with the updates software out of the box.

The Droid Razrs will also be getting ISIS NFC capabilities. This mobile wallet feature allows owners of the device to turn their smartphone into their own personalized digital wallet. Users can make payments simply by tapping their phone at ISIS compatible merchants, though ISIS is only up and running in Salt Lake City and Austin, Texas at the moment.